Facebook may one day let advertisers target mobile users based on their exact current location, but VP Carloyn Everson did not confirm that such a product is in the works to Bloomberg, Facebook tells me. The New York media company misinterpreted statements from Everson, who merely said you could imagine the product evolution afforded by a mobile phone’s location awareness.So we won’t say Facebook is “readying” such a product, but that doesn’t mean it won’t emerge eventually. let’s imagine how it could look. Real-time hyper-local Facebook advertising could allow local businesses to advertise to people in sight of their brick-and-mortar store, or let[...]

Intel has decided to beef up its strategy for mobile technology by purchasing 1,700 patents from InterDigital for $375 million in cash, the company announced today.InterDigital is known for producing advanced wireless technology, and the patents it sold to Intel are primarily related to 3G, LTE, and 802.11 technologies. InterDigital said the sale represents a small portion of its overall patent library.With the rate of mobile usage by consumers rapidly increasing, it’s understandable that Intel would want to make sure its future in this area is more secure.“These patents will support Intel’s strategic investments in the mobile segment,” said Doug Melamed, Intel sen[...]

Vungle co-founders Zain Jaffer and Jack Smith have already shown that they?re willing to do whatever it takes to make their startup succeed. When they learned that San Francisco-based incubator AngelPad had only one spot left for its class last fall, they targeted online ads at the friends of the program?s founder to prompt them to email him on their behalf. Extreme, but it worked. Now, $2 million in seed funding later, they?re applying the same just-get-it-done approach to building up their in-app video ad business.In addition to launching the site in private beta, Vungle?s founders announced Tuesday that they?re taking $1 million (half of their seed money) and using it to create a fund to[...]